WTI crude oil made a small recovery in Asia today after hitting a 6-month low of US$ 87.01 on Friday as the US Dollar found support across the board.
Data from energy technology company Baker Hughes showed a small drop of oil rigs operating in the US last week. It fell by 7 rigs to 598 compared to 387 oil rigs in operation a year ago.
Asian markets have started the week fairly muted as the fallout from Friday’s US non-farm payrolls data continues to be digested. Data showed 528k jobs were added in July against forecasts of 250k.
